Jeevan Tarun (934)
Product Summary: Jeevan Tarun plan is a non-linked, with profits,Limited premium payment plan specially designed to meet the educational expenses and other needs of growing children.
Premium Payment Mode: Yearly, Half Yearly, Quartely, Monthly(SSS and NACH)
Term: 25 - Age at entry
Minimum Age at Entry: 0 Year Year last birthday
Maximum Age at Entry: 12 Year (Last Birthday)
Maximum Maturity Age: Not applicable
Minimum Sum Assured: Rs. 1,00,000
Maximum Sum Assured: No Limit (Subject To (Other Conditions))
Riders Available No riders for life assured but Premium Waiver Benefit (PWB) available for proposer.
Accidental Death and Disability Benefit (ADDB): Not available
On Death: On death before date of commencement of risk : An amount equal to the total amount of premiums paid excluding, extra premium and rider premium, if any shall be payable. On death after the date of commencement of risk: Sum Assured on death(125% of Sum assured) + vested Simple Reversionary Bonus and Final Additional Bonus (if any).
On Survival: Option is to be chosen at the time of joining of the policy. Option-1: No Survival Benefit and 100% SA at maturity. Option-2: 5% of Sum Assured every year for 5 years from age 20 to 24 and 75% Sum Assured at the time of maturity. Option-3: 10% of Sum Assured every year for 5 years from age 20 to 24 and 50% Sum Assured at the time of maturity. Option-4: 15% of Sum Assured every year for 5 years from age 20 to 24 and 25% Sum Assured at the time of maturity.
Surrender Value: Policy can be surrendered at any time during the policy term provided at least 2 full years premium have been paid and two full years completed since inception of policy.
Loan: Loan can be availed at any time during the policy term provided at least 2 full years premium have been paid and two full years completed since inception of policy.
Income Tax Benefit: Premium paid under the policy is eligible for Tax rebate under section 80C. Maturity benefit under this policy is tax free under section 10 (10 D) of income tax act.
Proposal Form Form No 300.
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